by Alex Beyrent
Tuition prices at US colleges and universities have risen exponentially over the past few decades, causing student debt totals to skyrocket. The high costs of higher education, in turn, dissuade some students from pursuing a college degree. The idea goes: I’ll skip college and avoid taking on massive student loans, while simultaneously entering the workforce right out of high school.
According to Kelley Holland of CNBC, “the numbers are staggering: more than $1.2 trillion in outstanding student loan debt, 40 million borrowers, an average balance of $29,000.”
The students that do end up pursuing higher education are often swamped with debt and spend decades paying it off. The trade off for pursuing a degree is being forced to delay retirement savings and important investments. Given this growing problem, it is important that students are connected to the necessary resources regarding how to manage this debt and mitigate its impact on their lives.
Richard Wilder, Director of Student Financial Affairs at the University of Florida, spoke to me about the importance of being properly educated on how to best manage their debt and making that education a staple of…